Earnings Releases·Nov 9, 2026, 4:09 PM ET

Maze Therapeutics — Third Quarter 2026 Earnings Summary

**Financial Results:** Cash and marketable securities increased to $477.0 million as of September 30, 2026, from $360.0 million at year-end 2025; Q3 2026 net loss widened to $48.0 million ($0.79/share) from $30.1 million ($0.66/share) in Q3 2025, driven by R&D expenses rising to $40.2 million from $25.2 million.
**Revenue Milestones:** The company recognized $20.0 million in license revenue for the nine months ended September 30, 2026, attributable to a milestone achievement for MZE001 under an exclusive agreement with Shionogi, compared to $0 in the prior year period.
**Clinical Progress & Outlook:** Enrollment for the Phase 2 HORIZON trial of MZE829 is complete with interim data showing clinically meaningful uACR reductions; final data is expected in early 2027, with a pivotal trial planned for the first half of 2027 subject to regulatory feedback.
**Financial Runway:** Current cash resources are projected to fund operations into 2029 based on the existing business plan, which includes initiating a Phase 2 proof-of-concept trial for MZE782 in CKD and reporting topline data for the CIPheR trial in PKU during 2027.